Harlan County Health System
Alma, Harlan County, NE
· CCN 281300
Licensed to Harlan County Health System
Composite
31.3
rank score
Distress
42
FY2023
Fit
31
vs thesis
Estimated ticket
$1.6M–$3.2M
19 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin -10% to -5%
- 90-150 days cash on hand
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $13.9M |
| Operating margin | -9.1% |
| Total margin | 7.8% |
| Days cash on hand | 113 |
| Current ratio | 3.53 |
| Occupancy | 6% |
Facility
| Beds | 19 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 19 | $9.4M | $2.2M | -11.5% | 16.8% | 133 | 0.94 | 8% | 39 | 50 |
| 2021 | 19 | $11.6M | $1.7M | -6.1% | 12.4% | 117 | 1.82 | 12% | 101 | 36 |
| 2022 | 19 | $11.3M | $-1.0M | -17.3% | -8.5% | 97 | 3.73 | 9% | 65 | 58 |
| 2023 | 19 | $13.9M | $1.3M | -9.1% | 7.8% | 113 | 3.53 | 6% | 74 | 42 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Dakota Dreher | w-2 managing employee | 2026-01 | ||
| Dakota Dreher | operational/managerial control | 2026-01 | ||
| Doris Brandon | corporate officer | 2024-01 | ||
| Doris Brandon | corporate director | 2020-02 | ||
| Dustin Frasier | corporate director | 2022-02 | ||
| Jeffry Bash | corporate director | 2019-12 | ||
| Lisa Howsden | corporate director | 2019-12 | ||
| Louis Hays | corporate director | 2025-07 | ||
| Mary Christensen | corporate officer | 2019-12 | ||
| Mary Christensen | corporate director | 2019-12 | ||
| Ruben Chavez | corporate director | 2024-06 | ||
| Stacy Neubauer | corporate officer | 2022-09 | ||
| Stacy Neubauer | w-2 managing employee | 2020-09 | ||
| Stacy Neubauer | operational/managerial control | 2020-09 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.